Gov Akinwunmi Ambode of Lagos State on Monday signed into law a budget of N812bn for year 2017. The event took place at the Lagos State Government house, Alausa, Ikeja.
The governor said the budget is in line with the State Development Plan 2012-2025, describing it as the Medium Term Expenditure Framework for 2017-2019.
Gov Ambode commended members of Lagos State House of Assembly; ably led by the speaker, Hon. Mudashiru Obasa, for their forthrightness and speedy consideration and approval of the 2017 budget.
The governor said that his administration’s goal is to consolidate on the modest milestones recorded in the last eighteen months and propel Lagos State to a path of prosperity in line with the state’s development plan.
Ambode, who is optimistic of the recovery of Nigeria’s economy in 2017, said he’s encouraged by the budget performance of 2016 which stood at 78%.
He said Lgos State’s total capital expenditure in 2017 will be N507.816bn while recurrent expenditure is put at N305.182bn.
The governor asked for the co-operation and understanding of all taxpayers to successfully implement the 2017 budget, noting that civic obligations by Lagos State citizens like tax payments have become noticeably better, self-induced and encouraging in recent times.